The Bank of Israel announced a 0.5 percent devaluation of the shekel Thursday, following a 1 percent devaluation just a week ago.
The shekel now stands at 1.9527 to the dollar.
The economic community was relieved, meanwhile, by a somewhat lower-than-expected inflation rate for May. The Central Bureau of Statistics announced Thursday that the consumer price index rose by 0.9 percent last month.
Economists feared it would go over 1 percent, which would have signaled the start of a major recession. The lagging economy is currently being described as in a state of “restrained slowdown.”
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
